Life insurance is of significant importance if you wish to protect your family or dependents from any economic hardship in your absence.
It's not an expense-many people think of it as one & choose to completely even consider its importance. It's an very essential tool that will help you build wealth and at the same time offer complete protection to you and your family.
Single Individual
Even if you have no immediate dependents relying on you financially, it doesn't mean that you don’t need a life insurance. There are many costs that you need to factor in and which needs additional income to fulfill them. Life insurance helps you meet such expenses while safeguarding your current income
With Family
Unexpected passing of an individual leaves a lot of void and the surviving members are left to cope with a lot of stress and trauma. And no matter what, expenses never ceases to exist; it just piles on- be it rent, childcare expenses, loans, etc. In such scenario, loss of income would cause an immediate financial hardship and your loved ones are left struggling. Nobody wishes this upon their family, hence life insurance needs to be seriously considered.